GST to be Simplified Further Says Finance Minister

On Tuesday (7 January), Nirmala Sitharaman mentioned that the government would be resolving problems related to traders and GST will be simplified further too. The FM confirmed that a panel has been constituted which will be headed by the revenue secretary. This panel will check on various ways to simplify GST further.

On the second day of the National Traders Convention of the Confederation of All India Traders (CAIT), the FM reassured them that the government is making every effort to simplify and rationalise the tax structure of GST to the extent that even ordinary traders can comply with the provisions of the Goods and Services Tax (GST).

Traders from across the world are attending the three-day conference. The FM praised the trading community’s role in increasing GST data.

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The Ministry of Finance is seized of the taxation system problems that traders face, and the government would do its utmost to provide maximum relief to traders, the FM said.

Nirmala Sitharaman also mentioned that the Prime Minister, Narendra Modi had given priority to the trading community. In line with this, the government has made various announcements to help traders develop their businesses.

While traders carry tax income earners and no prudent government wants to bother them, they also need to bring their businesses into the system and upgrade their existing business formats.

The government is planning to hold large shopping festivals throughout the country and will involve CAIT so traders can have more opportunities to showcase their products, the FM said.GST

For any clarifications/feedback on the topic, please contact the writer at bhavana.pn@cleartax.in